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73.2% Of Approved Dwellings In Q3 Of 2022 Were Apartments

73.2% Of Approved Dwellings In Q3 Of 2022 Were Apartments
Nov 21 2023 Share

In the third quarter of 2023, a total of 384 building permits were granted for 1,827 new dwellings, marking a 12.7% decrease compared to the same quarter in the previous year.

Building permits serve as authorizations for commencing new construction projects, offering insights into the anticipated development of construction activities based on approved new dwellings.

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Compared to the third quarter of 2022, the number of building permits dropped by 13.9%, with a corresponding 12.7% decrease in approved new dwellings. The average number of approved new dwellings per building permit was 4.8.

The predominant new dwellings approved were apartments (1,337), followed by penthouses (276), maisonettes (141), terraced houses (61), and other residential units (12). 

Apartments constituted 73.2% of the total approved new dwellings.

In terms of regional variations, the number of new dwellings approved in Malta decreased by 6.5%, while in Gozo and Comino, there was a substantial 35.5% decrease. 

The Northern Harbour district recorded the highest number of approved new dwellings (528), while the Western district had the lowest (160).

San Pawl Il-Baħar led in the number of approved new dwellings (222), followed by Il-Mosta (110), Birkirkara (107), Ħal Qormi (85), and Tas-Sliema (82).

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St. Paul’s Bay continues to be the most sought-after ‘rental locality’

Nov 21 2023 Share

The Housing Authority of Malta has unveiled a detailed update on the Registered Rental Contracts for the initial six months of 2023.

Over the last three years, the Housing Authority has been instrumental in generating a wealth of data that mirrors the rapid evolution of the local rental sector. The latest figures, revealing active contracts reaching nearly 55,000 by the end of June 2023, showcase a remarkable 24% increase compared to the previous year. This surge underscores the sector’s pivotal role in addressing the diverse housing needs of Malta’s population.

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The report delves into the intricacies of the rental sector, unveiling notable trends. A conspicuous demand for diversification in available properties emerges, with 7.5% of registered contracts classified as shared spaces—an increase from just under 5% the preceding year. Moreover, tenancy durations have seen a consistent rise since the establishment of the register in 2020, with tenancies exceeding three years now constituting 12% of all contracts in June 2023. The enduring nature of these tenancies brings forth stability and peace of mind for both families and landlords, underlining the positive relationships prevalent in the market.

Key highlights from the report include:

  • Lease Duration: 92% of active contracts were for long-term leases, indicating a commitment to stable housing arrangements.
  • Popular Localities: St. Paul’s Bay continues to be the most sought-after locality, boasting around 8,200 registered contracts. Sliema, Msida, Gzira, St Julian’s, and Marsascala follow closely behind.
  • Rent Disparities: Sliema, St Julians, and Swieqi stand out as having the highest rents. In St Paul’s Bay, the median monthly rent for two-bedroom and three-bedroom apartments in the first half of 2023 stood at €700 and €850, respectively.
  • Shared Space Contracts: Approximately 65% of shared space contracts fall within the monthly rent range of €100 to €299.
  • Rent Price Trends: There is a noticeable moderation in the increase of rent prices, with an average rise of 5.5% in the first half of 2023, compared to the 6.9% growth rate registered in the second half of 2022.

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Maltese Chef Marvin Gauci Pranks Staff With Help Of Henry Galea

Maltese Chef Marvin Gauci Pranks Staff With Help Of Henry Galea
Nov 21 2023 Share

Maltese chef and restaurant owner Marvin Gauci had some fun at one of his restaurants by pranking his own staff into having them think he’s just a regular customer. 

 

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He did so with the help of Maltese makeup star Henry Galea, who is known for his bizarre and fantastical transformations through the use of cosmetics. 

The influencer and the restauranteur met up and saw the latter become an unrecognisable person, complete with a moustache and beard. The two went to Caviar & Bull for a lovely dinner, with Marvin’s staff not having the slightest clue as to who was dining with the TikTok star.

After a hearty meal, Marvin revealed he was in disguise, with the staff absolutely baffled at the trick and Henry’s capability to transform someone into a completely different person. 

 

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Prime Minister Thanked For Not Increasing Cigarette Prices

Prime Minister Thanked For Not Increasing Cigarette Prices
Nov 21 2023 Share

During a political activity in Naxxar, Prime Minister Robert Abela greeted a woman who thanked him for not increasing cigarette prices. 

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The woman approached the Prime Minister and praised him for his work, but highlighted that the most important thing for her was not increasing the price of cigarettes. 

‘I did not hear this one’ joked Abela as he laughed at the quip, with the woman going in for a hug with the Labour Party leader before he continued with the rally. 

What do you make of this moment?

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